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BoJ Minutes: Members Agreed To Persistently Continue Powerful Easing

Policymakers of the Bank of Japan agreed that it was appropriate to persistently continue with the current powerful monetary easing, the minutes of the policy board meeting held on September 18 and 19 showed Wednesday.

Members observed that downside risks to economic activity and prices warranted attention.

"It was becoming necessary to pay closer attention to the possibility that the momentum toward achieving the price stability target would be lost," the minutes said. They concurred it necessary to reexamine economic and price developments at the policy meeting in October.

Members also shared the view that it was desirable to describe this recognition in the policy statement and make it clear to the public.

Given the prolonged low interest rate environment, some members said it would be necessary to examine comprehensively that possibility that financial institutions' profitability would decline further and an increasing number of institutions would take excessive risks.

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